Resouro Strategic Metals Inc. (RSGOF) Completes First Tranche of Private Placement

Resouro Strategic Metals Inc. (ASX:RAU) (CVE:RSM) (FRA:8TX) (OTCMKTS:RSGOF) is pleased to announce that it has now completed the first closing of its previously announced non-brokered private placement (the "Private Placement").

Under this first tranche, the Company has issued 5,000,000 units (the "Units") at price of CAD$0.20 per Unit to raise total gross proceeds of CAD$1,000,000. Each Unit consists of one common share ("Common Share") in the capital of the Company and one-half of one common share purchase warrant, comprising 2,500,000 warrants in total ("Warrant"). Each Warrant entitles the holder to purchase one additional Common Share at a price of CAD$0.30 per share for a period of three-years from the date of issuance.

The Company anticipates closing the second and final tranche of the Offering, for an additional 10,000,000 Units, this week.

The Company intends to use the net proceeds of the Offering to advance the engineering program, an essential step toward the Preliminary Economic Assessment for the Tiros project, as well as for general working capital purposes.

All securities issued under the Offering are subject to a statutory hold period of four months and one day from the date of issuance, in accordance with applicable Canadian securities laws and TSX Venture Exchange policies. In accordance with the ASX Listing Rules, the 5,000,000 shares were issued pursuant to the Company's available placement capacity under Listing Rule 7.1A while the 2,500,00 Warrants were issued pursuant to Listing Rule 7.1.

No finder's fees were paid.

The Offering remains subject to final approval by the TSX Venture Exchange.

Chris Eager
Executive Chair (Santiago)
chris.eager@resouro.com
+44 7388 0579809

Emily Evans, SPOKE
Media and Content Manager
emily@hellospoke.com.au
+61 401 337 959

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